On 9 June 2023, EU Regulation 2023/1114 on Markets in Crypto Assets (MiCA) was published in the Official Journal of the European Union.
The MiCA rules on stablecoins will come into force on 30 June 2024. The remaining provisions will come into force on 30 December 2024.
MiCA is being implemented with the goal of comprehensively regulating the issuance, offering to the public, and admission to trading of crypto-assets as well as related services. These include various requirements for offering crypto-assets to the public or seeking to admit them to trading, as well as licensing requirements for crypto-asset service providers and issuers of e-money tokens/asset-referenced tokens (aka stablecoins).
If you are working on implementing MiCA, you will need to work not only through the relevant sections of the Regulation itself but also the accompanying Guidance and Technical Standards – most, but not all, of which, have been issued for consultation but not yet finalised. They are also not conveniently laid out in one place.
In order to assist with the navigation of these various rules and guidelines we have prepared a map and a navigator tool. Please let us know what you think!
About Clearlake
Clearlake Law provides fractional general counsel services to organisations across multiple technology sectors doing business in the United Kingdom.
Please feel free to reach out directly to the author of this post, Katherine Kennedy, on katherine.kennedy@clearlake.law or 0204 570 8741.
